The 1962 U.S. stock-market decline associated with President Kennedy’s trade dispute was the Kennedy Slide.
The decline occurred in the first half of 1962, with the Dow Jones Industrial Average falling about 27% from its peak in December 1961 to its June low. The sell-off reflected concerns about slowing economic growth, corporate profits, monetary conditions, and the sustainability of high stock valuations.
A major political flashpoint was the administration’s confrontation with U.S. Steel and other steel producers after companies announced price increases in April 1962. The administration criticized the increases, and companies reversed them. The dispute damaged business confidence and became strongly associated with the market decline, though it was not the sole cause.
The Kennedy Slide is not the same event as the 1987 Black Monday crash or the 1929 Wall Street Crash. Its nickname identifies the period’s political association, while the broader decline also reflected economic and valuation pressures.